The bottom line, the short-term trend is up. I hold both long and short over the weekend (New Strategy – try to hold as long as possible, so I still hold the short).
In the intraday comment, I said that bears are losing unless we see a strong follow-through the next Monday which I don’t hope much as the chart below doesn’t look bearish at all. On a little bit longer than short-term, as I mentioned in last night’s report, beware of reversal of reversal of reversal before an important top, which till now looks very much like so.
Enjoy your weekend!
Demo account for short-term model, $200 max loss allowed per trade. Mechanical trading signal, for fun only.
|TICKER||Entry Date||Entry Price||Share||Stop Loss||Exit Date||Exit Price||Profit||Comment|
|SDS||03/01/2011||$21.37||200||$20.62||03/01/2011||$21.76||78.00||New strategy, half positioned.|
|SSO||02/28/2011||$53.09||100||$52.20||03/01/2011||$53.69||60.00||New strategy, half positioned.|
|SDS||02/22/2011||$21.05||300||$20.62||Trying new strategy, so still hold.|